State Street Corp Raises Stock Position in Richardson Electronics, Ltd. (NASDAQ:RELL)

State Street Corp grew its holdings in Richardson Electronics, Ltd. (NASDAQ:RELL) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,563 shares of the technology company’s stock after acquiring an additional 914 shares during the period. State Street Corp’s holdings in Richardson Electronics were worth $2,783,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Royce & Associates LP boosted its position in shares of Richardson Electronics by 8.7% during the third quarter. Royce & Associates LP now owns 1,128,591 shares of the technology company’s stock worth $13,927,000 after acquiring an additional 90,164 shares during the last quarter. Parthenon LLC lifted its stake in Richardson Electronics by 6.5% in the 2nd quarter. Parthenon LLC now owns 134,316 shares of the technology company’s stock worth $1,597,000 after purchasing an additional 8,247 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Richardson Electronics by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 131,577 shares of the technology company’s stock valued at $1,564,000 after purchasing an additional 4,513 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Richardson Electronics by 11.8% during the 2nd quarter. Squarepoint Ops LLC now owns 21,722 shares of the technology company’s stock valued at $258,000 after purchasing an additional 2,284 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Richardson Electronics by 14.7% during the second quarter. American Century Companies Inc. now owns 18,372 shares of the technology company’s stock valued at $218,000 after purchasing an additional 2,359 shares in the last quarter. Institutional investors own 71.95% of the company’s stock.

Insiders Place Their Bets

In other Richardson Electronics news, Director James Benham bought 4,500 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were purchased at an average cost of $13.29 per share, for a total transaction of $59,805.00. Following the transaction, the director now owns 13,706 shares of the company’s stock, valued at $182,152.74. This represents a 48.88 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 32.84% of the company’s stock.

Richardson Electronics Trading Up 0.2 %

NASDAQ:RELL opened at $14.03 on Wednesday. The business’s 50-day moving average is $14.13 and its 200 day moving average is $12.73. Richardson Electronics, Ltd. has a 12 month low of $8.08 and a 12 month high of $15.51. The company has a market capitalization of $201.77 million, a P/E ratio of -280.60, a P/E/G ratio of 1.74 and a beta of 0.94.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Wednesday, October 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. The business had revenue of $53.73 million for the quarter, compared to analysts’ expectations of $49.45 million. Richardson Electronics had a negative return on equity of 0.24% and a negative net margin of 0.40%. During the same period in the prior year, the firm earned $0.09 EPS. On average, research analysts forecast that Richardson Electronics, Ltd. will post 0.33 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 8th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.24 annualized dividend and a yield of 1.71%. Richardson Electronics’s dividend payout ratio (DPR) is currently -480.00%.

Richardson Electronics Profile

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor manufacturing equipment, RF, and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.